                                 CODE OF VIRGINIA

PULP, PAPER, AND FERTILIZER ADVANCED MANUFACTURING PERFORMANCE GRANT PROGRAM AND
FUND (§ 59.1-284.28)

A. As used in this section:
			&#8220;Capital investment&#8221; means an investment in real property,
tangible personal property, or both, made or caused to be made by a qualified
entity in a facility.
			&#8220;Eligible county&#8221; means Chesterfield County.
			&#8220;Facility&#8221; means any facility that, pursuant to a memorandum of
understanding, is to be owned or leased by the qualified entity and operated by
the qualified entity for the manipulation and manufacture of pulp, paper, and
fertilizer products.
			&#8220;Grant&#8221; means an installment of the pulp, paper, and fertilizer
advanced manufacturing performance grant paid in a particular fiscal year as
described in this section.
			&#8220;Memorandum of understanding&#8221; means a performance agreement to be
entered into by July 31, 2015, by a qualified entity and the Commonwealth
setting forth the requirements for capital investment, the creation of new
full-time jobs, and other criteria that will make the qualified entity eligible
for grants under this section.
			&#8220;New full-time job&#8221; means employment of an indefinite duration in
a facility, for which the average annual wage is at least equal to the
prevailing average annual wage in an eligible county and for which the standard
fringe benefits are provided by the qualified entity, requiring a minimum of
either (i) 35 hours of an employee&#8217;s time per week for the entire normal
year of such qualified entity&#8217;s operations, which &#8220;normal
year&#8221; must consist of at least 48 weeks, or (ii) 1,680 hours per year.
Seasonal or temporary positions and positions created when a job function is
shifted from an existing location in the Commonwealth shall not qualify as new
full-time jobs under this section. Other positions, which may or may not be of
indefinite duration, including supplemental employees of affiliates,
subsidiaries, joint ventures, contractors, or subcontractors of the qualified
entity, may be considered new full-time jobs if designated as such in the
memorandum of understanding.
			&#8220;Qualified entity&#8221; means a for-profit corporation or other entity
that is or will be engaged in the manipulation and manufacture of pulp, paper,
and fertilizer products and that will commit itself in the memorandum of
understanding to (i) make or cause to be made a new capital investment of at
least $2 billion on or after July 1, 2014, at a facility; (ii) create or cause
to be created, on or after July 1, 2014, at least 2,000 new full-time jobs
related to the qualified entity&#8217;s operations; and (iii) meet the other
criteria set forth in the memorandum of understanding.
			&#8220;Secretary&#8221; means the Secretary of Commerce and Trade or his
designee.

B. 1.  Any qualified entity shall be eligible to receive a grant each fiscal
year beginning with the Commonwealth&#8217;s fiscal year starting on July 1,
2016, and ending with the Commonwealth&#8217;s fiscal year starting on July 1,
2022, unless such time frame is extended in accordance with this section. The
grants under this section (i) shall be paid, subject to appropriation by the
General Assembly, from a nonreverting fund entitled the Pulp, Paper, and
Fertilizer Advanced Manufacturing Performance Grant Program Fund, which Fund is
hereby established on the books of the Comptroller; (ii) shall not exceed $20
million in the aggregate; (iii) shall be paid to a qualified entity during each
fiscal year contingent upon the qualified entity&#8217;s meeting the
requirements for the creation of new full-time jobs, new capital investment, and
other criteria set forth in the memorandum of understanding; and (iv) shall be
expended by or for the benefit of the qualified entity on the costs of
developing a facility or establishing or maintaining the qualified
entity&#8217;s operations.

   2. The amount of the grant to be paid in each fiscal year shall be conditioned
   upon the qualified entity&#8217;s meeting the requirements for (i) the
   aggregate number of new full-time jobs created throughout the calendar year
   that immediately precedes the beginning of such fiscal year, (ii) the
   aggregate amount of the capital investment made throughout the calendar year
   that immediately precedes the beginning of such fiscal year, and (iii) other
   criteria described in the memorandum of understanding. If the qualified entity
   has not met the grant requirements set forth in the memorandum of
   understanding by December 31, 2020, the period of eligibility may be extended
   for up to three years, provided that the grants paid in any given fiscal year
   shall not exceed $3 million, plus any amounts deferred in accordance with
   subsection C or D. Grants shall be paid based upon such requirements as agreed
   to on or before July 31, 2015, regardless if such memorandum of understanding
   is later modified, amended, superseded, or otherwise changed.

   3. The aggregate amount of grants that may be awarded in a particular fiscal
   year shall not exceed the following:
   				a. $2 million for the Commonwealth&#8217;s fiscal year beginning July 1,
   2016;
   				b. $5 million, less the total amount of grants previously awarded pursuant
   to this subsection, for the Commonwealth&#8217;s fiscal year beginning July 1,
   2017;
   				c. $8 million, less the total amount of grants previously awarded pursuant
   to this subsection, for the Commonwealth&#8217;s fiscal year beginning July 1,
   2018;
   				d. $11 million, less the total amount of grants previously awarded
   pursuant to this subsection, for the Commonwealth&#8217;s fiscal year
   beginning July 1, 2019;
   				e. $14 million, less the total amount of grants previously awarded
   pursuant to this subsection, for the Commonwealth&#8217;s fiscal year
   beginning July 1, 2020;
   				f. $17 million, less the total amount of grants previously awarded
   pursuant to this subsection, for the Commonwealth&#8217;s fiscal year
   beginning July 1, 2021; and
   				g. $20 million, less the total amount of grants previously awarded
   pursuant to this subsection, for the Commonwealth&#8217;s fiscal year
   beginning July 1, 2022.

C. Any qualified entity applying for a grant under this section shall provide
evidence, satisfactory to the Secretary, of (i) the aggregate number of new
full-time jobs created and the substantial retention of the same throughout the
calendar year that immediately precedes the fiscal year in which the grant is to
be paid, (ii) the aggregate amount of the capital investment made and
substantially retained as of the last day of the calendar year that immediately
precedes the fiscal year in which the grant is to be paid, and (iii) progress
toward meeting all other requirements described in the memorandum of
understanding. The application and evidence shall be filed with the Secretary in
person or by mail no later than April 1 of each year following the calendar year
in which the qualified entity meets such aggregate new full-time job
requirements, aggregate capital investments, and other requirements described in
the memorandum of understanding. Failure to meet the filing deadline shall
result in a deferral of a scheduled grant payment set forth in subsection B. For
filings by mail, the postmark cancellation shall govern the date of the filing
determination.

D. The memorandum of understanding may provide that if a grant payment has been
deferred for any reason, including any failure to meet the aggregate capital
investment or the aggregate new full-time job requirements or any other
requirement set forth in the memorandum of understanding, payment in a
subsequent fiscal year for which such requirements have been met for the
immediately preceding calendar year (i) shall include both the deferred payment
and the scheduled grant payment as provided in subsection B or (ii) that a
proportional payment be made, based on the proportional share of the required
capital investment, new additional full-time jobs, or other applicable criteria.

E. As a condition of receipt of a grant, a qualified entity shall make available
to the Secretary for inspection upon his request relevant and applicable
documents to determine whether the qualified entity has met the requirements for
the receipt of grants as set forth in this section and the memorandum of
understanding. The Comptroller shall not draw any warrants to issue checks for
the grant program under this section without a specific appropriation for the
same. All such documents appropriately identified by the qualified entity shall
be considered confidential and proprietary.

HISTORY: 2015, c. 207.